President Barack Obama had authorised the individual and sectoral sanctions against Crimea last week.
The United States action comes after Russia annexed the Crimean peninsula in March 2014.
The economic blockade of Crimea is part of that support to Ukraine government.
Russia seized the opportunity and captured the Crimean territory from Ukraine.
Since then, Russia has been embattled with sanctions from western powers against its offensive against a weaker Ukraine.
Latest Sanctions
As said above, President Obama authorised the economic sanctions against Crimea last week.
That makes it illegal US firms to operate or offer services in Crimea.
Visa issued the following statement to TASS, the Russian government mouthpiece, regarding the closing of its services.
As for the time period, these limitations will last until the sanctions are lifted from Crimea.
VISA continues to follow closely the events and will provide you with the information as soon as it appears.
Consequences
As of 16th December, about 31 banks were operational in the Crimean region.
source: www.techworm.net
